Home / Qtel confirms interest in Morocco's Meditel

Qtel confirms interest in Morocco's Meditel

Qatar telecom giant eyes stake in north African company, monitoring sale.

Qatar Telecommunications Co (Qtel) said on Sunday it was interested in Portugal Telecom's plans to sell its stake in Morocco's second-largest telecoms company Meditel.

Bankers are working on financing to back bids for a potential 64.4 percent stake in Meditel, bankers close to the deal said on Friday.

Portugal Telecom's 32.2 percent stake is for sale, as is Spain's Telefonica's 32.2 percent, two bankers said.

"Qatar Telecom confirms its interest in the process initiated by Portugal Telecom SGPS SA regarding the sale of their stake in Medi Telcom, Meditel," the firm said in a statement on the Abu Dhabi stock exchange.

"The intentions of the remaining shareholders in Meditel are still unclear, and, as such, Qtel will continue to monitor the situation until the facts becomes clearer," the statement said. (Reuters)